Tom Fomby has edited the series since 1987; Carter Hill joined as co-editor in 1996. The success of this research series over the last 30 years is to a large extent attributable to these two men. Their work with the Advances volume, their own research, and their co-authoring of textbooks translated into several languages clearly attests to the deserving dedication of this volume to these two men.
Anyone who has authored a paper for Advances in Econometrics, attended the associated conference, or been associated with the series in any way knows first-hand the time and energy these two individuals have devoted to the series. Each year at the conference dinner, Tom Fomby discusses the mission of the series, which includes the publication of original articles containing sufficient detail to familiarize non-experts on the topic along with the sharing of computer programs and data used in articles. While mission statements sound like a rather dry topic, Tom Fomby’s passion tor this mission makes his dinner presentation a highlight for everyone in attendance. This passion is apparent in his 25 plus years of editorship as well.
Carter Hill's passion for econometrics and the Advances in Econometrics series are apparent in his work as well. In addition to his careful and painstaking work editing volumes, Carter promoted the initial idea of the conference with great vigour. His energy has been crucial in making the conference and the research series a great success.
One could go on far too long discussing the accomplishments of Tom Fomby and Carter Hill, both with regard to Advances in Econometrics and other aspects of their careers. However, the greatest insight into both men comes from those that have interacted with them most. Stories from their many students, other colleagues such as the guest editors of this volume, authors publishing in the Advances in Econometrics series, and countless others using their research or textbooks provide the greatest insight into their accomplishments.
In conclusion, we happily dedicate this 30th volume of Advances in Econometrics to its longstanding co-editors, Thomas B. Fomby and R. Carter Hill.
The collection of papers in this 30th volume of Advances in Econometrics provides a well-deserved tribute to Thomas B. Fomby and R. Carter Hill, who have served as editors of the Advances in Econometrics series for 25 and 21 years respectively.
Volume 30 contains a more varied collection of paper than previous volumes, in essence mirroring the wide variety of econometric topics covered by the series over 30 years.
Volume 30 starts with a paper discussing the history of this series over the last 30 years. The next five papers can be broadly categorized as focusing on model specification and testing. Following this section are three contributions that examine instrumental variables models in quite different settings. The following four papers focus on applied macroeconomics topics.
Model Specification & Testing